IDB earmarks $1.5B credit for Argentina

    The Inter-American Development Bank has set aside $1.5 billion to support a housing program in Argentina. The conditional credit, according to the bank, aims to boost the living standards in urban areas, where 38 million poor Argentines live. “Argentina’s housing problems are essentially urban, as 90 percent of its population lives in cities,” Beatriz Lopez, the project’s team leader, said. “The great majority of these villas or shanty towns are centrally located but consist of makeshift dwellings without basic sanitation and drainage services, and their residents lack title to their homes,” Lopez continued. She deemed the funding as proof of ?the commitment between the country and the IDB to the poorer neighborhoods in Argentina for a long period of time.” (Source: IDB gives $1.5B credit line to Argentina/The Associated Press)

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